In an unprecedented move, the world's leading central banks slashed interest rates sharply to help stave off further erosion in the global credit markets. In the U.S., the Fed cut rates by half a percentage point, down to 1.5%, ahead of its October 28 meeting.
The European Central Bank also cut its interest rate, as key banking officials cited the need to breathe life into a struggling global economy that is falling deeper into recession. Additionally, the Bank of England also cut its interest rate by a half percentage point.
Since the credit crisis began in August, 2007, the U.S. has led the world down a dark and narrow road starting with the housing crisis and now facing a global credit crunch. It's nearly impossible for people or businesses to get a loan for anything, including a house, a car, or just an extension of credit for equity lines.
LeaseTrader.com has been working with people all over the country that want to transfer their car lease to someone else.
This story posted by LeaseTrader.com, the automotive service company that lets people transfer out of their Car Leases early. If you're looking to swap a lease or transfer out of your car lease, please visit www.leasetrader.com